Global Monochloroacetic Acid Market Set for Rapid Growth, to Reach around USD 1,050.0 Million by 202

Global monochloroacetic acid market was valued at USD 850.0 million in 2014 and is expected to reach USD 1,050.0 million in 2020,growing at a CAGR of 3.0% between 2015 and 2020

Zion Research has published a new report titled “Monochloroacetic Acid Market for Cellulosics, Agrochemicals, Thioglycolic Acid, Surfactants and Others Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 - 2020.” According to the report, global demand for monochloroacetic acid was valued at USD 850.0 million in 2014 and is expected to reach USD 1,050.0 million in 2020, growing at a CAGR of slightly above 3.0% between 2015 and 2020. In terms of volume, the global monochloroacetic acid market stood at around 700.0 kilo tons in 2014.

Monochloroacetic acid (MCA) is an organochlorine compound used as a building block in organic synthesis. Monochloroacetic acid is a colorless or white deliquescent crystalline compound. Acetic acid and chlorine are key raw materials used in the production of monochloroacetic acid. Monochloroacetic acid is a halogenated derivative of acetic acid that is used as a building block in organic synthesis. Monochloroacetic acid is completely soluble in water, soluble in alcohol, acetone, chloroform and ether and a partly soluble in chlorinated hydrocarbons. Thioglycolic acid, agrochemicals, phenoxyacetic acid, surfactants, glycine and others are the major end application industries of monochloroacetic acid.

Monochloroacetic acid (MCA) is broadly used in chemical industries in the manufacture of carboxymethyl cellulose (CMC). Hence, the demand for CMC is expected to rise exponentially due to an increase in industrial applications. Moreover, rising population and increasing demand for agricultural products is expected to trigger growth of monochloroacetic acid. Increasing demand from glyphosate is also likely to boost the demand for monochloroacetic acid during the years to come.

Cellulosics, agrochemicals, thioglycolic acid, surfactants and others are the key application segments of monochloroacetic acid market. Cellulosics was the largest application market for monochloroacetic acid market. Cellulosics segment accounted for over 30.0% share of total market, in 2014. Agrochemicals application segment is expected to be the second largest segment in this market. Thioglycolic acid, surfactants and others application are also expected to dominate the global monochloroacetic acid market.

Geographically, Asia Pacific dominated the global monochloroacetic acid market, in 2014. Increasing demand from personal care and agrochemicals industry is major driving factor for monochloroacetic acid in Asia Pacific. Asia Pacific followed by North America, Europe, Middle East & Africa and Latin America.

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